Dassault Systemes Shares Fall After Decline in 1Q Adjusted Profit
April 26 2023 - 6:13AM
Dow Jones News
By David Sachs
Dassault Systemes SE shares were down Wednesday after the
company reported lower first-quarter adjusted operating margin, and
said it targets a lower adjusted margin for the current
quarter.
At 0934 GMT, the French software company's shares were down 8.2%
at EUR34.35.
The company said non-IFRS operating profit was 444.8 million
euros ($488.2 million) in the first quarter, down from EUR464.0
million in last year's first quarter.
Dassault's non-IFRS operating margin fell to 31% from 35%.
Dassault said it is targeting a non-IFRS operating margin of
30%-30.5% in the second quarter, and still expects an annual margin
of between 32.3% and 32.6%.
Dassault raised its revenue guidance range to between EUR5.94
billion and EUR5.99 billion, above a previous range of EUR5.93
billion and EUR5.98 billion.
Dassault, like other European software companies, presents its
figures as two sets of numbers. One set is based on the
International Financial Reporting Standards--an international
accounting method that seeks to provide a global reporting
standard--though analysts and investors tend to follow non-IFRS
numbers. Those figures exclude share-based compensation,
restructuring expenses and acquisition-related charges.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
April 26, 2023 05:58 ET (09:58 GMT)
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